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Market Review

US:

Wall Street jumped on Wednesday, closing sharply higher as megacap growth stocks powered up thanks to a pause in rising interest rates, and upbeat earnings reports also encouraged investors to buy

Asia:

Shares in Asia-Pacific were mixed in Thursday morning trade as investors await the release of U.S. consumer inflation data.

 India:

BSE Sensex and Nifty 50 ended over one per cent higher on Wednesday, one day ahead of RBI MPC outcome. Sensex closed 657 points higher at 58,466 while the NSE Nifty 50 index ended 197 points or 1.14% higher at 17,463. Market is expected to open on a flattish note and likely to witness sideways move during the day.

Economy:

Italian industrial output was weaker than expected in December, falling 1.0% from the month before after a large, upwardly revised rise of 2.1% in November German exports and imports rose unexpectedly in December, the statistics office said on Wednesday, as order books have remained full despite continued raw material bottlenecks. Seasonally adjusted exports rose 0.9% on the month to 117.0 billion euros.Imports jumped 4.7% to 110.0 billion euros Germany's car market is expected to grow by 7% in 2022 to 2.8 million new vehicles an improvement on last year's historic lows but still below pre-pandemic levels. Globally, the association expects 4% growth in the market this year, with a 5% increase in Europe where recovery from the pandemic has been slower than in the United States or China, it said. U.S. wholesale inventories rose slightly more than initially estimated in December as motor vehicle stocks increased by the most in 10 years, offering hope that supply chain constraints could be easing. Wholesale inventories increased 2.2% in December, instead of 2.1% as estimated last month

Commodities:

Oil prices were mixed on Thursday, after rallying on an unexpected drop in U.S. crude inventories in the previous session, as investors await the outcome of U.S.-Iran nuclear talks that could add crude supplies quickly to global markets. Gold prices were stuck in a tight range on Thursday as investors awaited U.S. inflation data that could offer fresh clues about the pace of the Federal Reserve's monetary policy tightening.

Currency

Dollar ticks down, euro up ahead of U.S. CPI report .

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